Every year, about 15 million tons of asphalt shingles waste is generated in the U.S. Of that, about 13 million tons wind up in landfills, creating environmental concerns. In fact, not only can it take between 300 and 400 years for asphalt shingles to fully decompose, the decomposing waste can release harmful chemicals into groundwater and soil and even generate methane. Fortunately, there is a solution to the issue with companies like Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF).
Focused on the sustainable recovery and reprocessing of asphalt shingles, Northstar is diverting asphalt shingles from landfills, extracting the liquid asphalt, fiber and aggregate for re-purposed usage. Even better, the global asphalt shingles market could reach nearly $9.2 billion this year and $13.3 billion over the next 10 years, according to Future Market Insights.
“The asphalt shingle industry is set to rise due to the growing awareness of energy efficiency, as reflective coatings or cool roof technologies reduce energy use. Building rules and regulations that emphasize safety, durability, and energy efficiency can influence the acceptance of these roofing materials,” they added.
Other companies that could benefit include Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Lowe’s Companies Inc. (NYSE: LOW), and Home Depot Inc. (NYSE: HD).
Look Closer at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF)
Northstar Clean Technologies Inc. just released the third episode in its construction and commissioning updates video series for its inaugural asphalt shingle reprocessing facility in Calgary, Alberta.
In the third episode, Mr. Aidan Mills, President & CEO, is joined by Ms. Julia Johnson, Health, Safety & Environment Coordinator, to discuss the importance of HSE to Northstar and the protocols in place for the project, the overall construction status and critical next steps leading to the Empower Calgary Facility commissioning and start-up.
The third episode is available on the Company’s YouTube channel at the link below:
ROOF | Construction Update 3
Other related developments from around the markets include:
Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share, a 15% increase compared to the prior quarterly dividend. The dividend will be payable on January 17, 2025, to shareholders of record as of January 6, 2025. In addition, the company earned a place on the Dow Jones Sustainability World Index (DJSI World) for the 15th consecutive year and on the DJSI North America Index for the seventh consecutive year, with industry-leading assessment scores.
Builders FirstSource announced that it has entered into a definitive agreement to acquire Alpine Lumber Company. “Alpine has long-standing customer relationships and a proven track record of profitable growth in highly attractive markets,” said Peter Jackson, President and CEO of Builders FirstSource. “This acquisition aligns with our strategic pillar to deploy capital to high-growth investments, and it enhances our footprint in our West Division. The complementary nature of our businesses and shared cultures of delivering exceptional customer service will provide significant benefits to our customers, employees, and shareholders. I am looking forward to welcoming the Alpine team members to Builders FirstSource.”
Lowe’s reported net earnings of $1.7 billion and diluted earnings per share (EPS) of $2.99 for the quarter ended Nov. 1, 2024, compared to diluted EPS of $3.06 in the third quarter of 2023. During the third quarter, the company recognized a $54 million pre-tax gain associated with the 2022 sale of the Canadian retail business. This positively impacted third quarter diluted EPS by $0.10. Excluding this gain, third quarter 2024 adjusted diluted EPS1 was $2.89. Total sales for the quarter were $20.2 billion, compared to $20.5 billion in the prior-year quarter. Comparable sales for the quarter decreased 1.1%, driven by continued softness in DIY bigger-ticket discretionary demand, which was partly offset by storm-related sales and positive comparable sales in Pro and online.
Home Depot reported sales of $40.2 billion for the third quarter of fiscal 2024, an increase of 6.6% from the third quarter of fiscal 2023. Comparable sales for the third quarter of fiscal 2024 decreased 1.3%, and comparable sales in the U.S. decreased 1.2%. “While macroeconomic uncertainty remains, our third quarter performance exceeded our expectations,” said Ted Decker, chair, president and CEO. “As weather normalized, we saw better engagement across seasonal goods and certain outdoor projects as well as incremental sales related to hurricane demand. I would like to thank all of our associates for their dedication in serving our customers and communities.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Northstar Clean Technologies Inc by Northstar Clean Technologies Inc. We own ZERO shares of Northstar Clean Technologies Inc Please click here for disclaimer.
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